Sudden CFO Departure Sends Redcare Pharmacy Shares Tumbling

The abrupt resignation of Chief Financial Officer Jasper Eenhorst has triggered a sell-off in Redcare Pharmacy shares, creating uncertainty for the online pharmacy giant. Eenhorst is stepping down from the board effective immediately after nearly six years leading the company’s financial operations, with his departure coming just weeks before the scheduled release of third-quarter results.

Unexpected Leadership Change Creates Market Jitters

Redcare Pharmacy announced late Thursday that CFO Jasper Eenhorst would be leaving the company to pursue new professional opportunities. The timing has raised eyebrows among market participants, given the proximity to the October 29 release of quarterly figures.

During this transitional period, CEO Olaf Heinrich will assume the CFO responsibilities while the supervisory board conducts a search for a permanent replacement. The company stated that Eenhorst will remain with Redcare Pharmacy through year-end to ensure an orderly handover of his duties.

Market analysts view the timing of this executive change as potentially significant, questioning whether it might indicate concerns about the company’s near-term performance. The unexpected nature of the announcement has introduced volatility to the stock, which had already been under pressure throughout the year.

Should investors sell immediately? Or is it worth buying Redcare Pharmacy?

From Expansion Architect to Departing Executive

During Eenhorst’s tenure, Redcare Pharmacy transformed from a simple online pharmacy operation into Europe’s leading mail-order pharmaceutical corporation. His most notable achievement involved capitalizing on regulatory changes that opened Germany’s prescription market to EU-based online pharmacies.

Recent financial performance has presented a mixed picture, however. While second-quarter 2025 revenue showed robust growth of 26.5% to reach €716 million, prescription growth has shown signs of slowing. The adjusted EBITDA margin, though improved to 2.6%, continues to reflect challenging market conditions.

Searching for Financial Leadership

Supervisory Board Chairman Björn Söder acknowledged Eenhorst’s contributions to the company, specifically highlighting his role in the German market expansion and the successful €300 million bond issuance that strengthened the company’s financial foundation. The board aims to name a successor “soon,” though no specific timeline has been provided for the appointment.

The market response to the leadership news was immediate, with shares declining significantly and approaching their lowest levels of the year. Redcare Pharmacy has been among the weakest performers in Germany’s MDAX index, with shares down more than 40% since the beginning of the year.